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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Glen Grp | GLN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.06 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.06 | 0.06 |
| Top Posts |
|---|
Posted at 12/2/2009 09:43 by dell314 8Trader - You're not actually holding this are you? It looks like it could just as easily run out of dosh, as make a go of it. Aren't there better odds around, away from the pump'n'dump muppets who appear to be pumping every fractional priced share for no other reason than the price begins with 0.0 pence? Many of the new investors that are jumping aboard all these pumps thinking news must be out there are going to be left with portfolios from hell, once MMs walk the stocks back down. I haven't seen anything this daft in a long while.... Rgds dell All IMHO, DYOR etc. |
Posted at 27/7/2008 20:11 by sharewinner2 Hi Vince,hope you had a nice weekend and enjoyed the Polo. Do you play yourself or just like to watch? I had an enjoyable weekend, my daughter had a great time on Thursday as my friend and her little boy came round, they had fun playing in the garden, I ended up with sand all over the house from the sandpit then they both thought it was funny to play with the sprinkler system in the garden and ended up soaked. Kids eh! Went to Edinburgh zoo today, wasn't especially great but it was okay. I'm going to book a day spa at Cameron House over the next week or two as I think I deserve it, I'm so looking forward to it, a day of being pampered will be fantastic, I believe they now have an ifinity pool that looks on to Loch Lomond so that will be great. It should chill me out, let me forget about shares for a day. I see we have a new investor in GLN, was it Littlelad that bought in friday? He got a good price only paying .09p, good on him. Goodness I've typed lots. Sorry again to anyone reading this for being totally off topic. Hope you are well and speak to you soon. |
Posted at 16/11/2007 18:09 by dreamsurfer141 There are a few things I would like to see from Glen (to add transparency to my post I have a small holding at 0.48):- A share consolidation - Director dealings from the new directors, top ups from existing directors - The jobs on their site going ( they've been there ever since I invested in June - A possible name change They started to trade on the Plus market to "enhance investor choice, improve liquidity for shareholders and provide greater access to investors" but they would also benefit from tighter spreads if they didn't have nearly a billion shares out there. This I beleive would improve their liquidity. The latest advances with Unified Communications in Exchange 2007, Office Comminications Server 2007 should also be benificial to Glen as the VoIP cababilities of these products are pretty good and are apparently easy to deploy and manage. |
Posted at 08/11/2007 00:17 by grabro I would be interested to know how other investors acquired their shares? I was 'conned?' into buying 1,000,000 at 0.55p last June by an outfit called Sigma Financial Management Ltd, on the basis that they should provide a reasonably quick return. Not doing very well at the moment! |
Posted at 27/6/2007 07:49 by currypasty RNS Number:0316ZGlen Group PLC 27 June 2007 Glen Group plc Trading on 'PLUS' Glen Group plc (AIM: GLN), is pleased to announce that its ordinary shares have been admitted to trading on 'PLUS' (under the same trading symbol as on AIM (GLN-L). 'PLUS' is an independent London-based equity market service provided by PLUS Markets Group plc. 'PLUS' is based on a quote-driven trading system and currently trades over 850 small and mid-cap company shares representing a combined market capitalisation of over GBP155 billion. The Company's ordinary shares will continue to be quoted and traded on AIM and trading through the PLUS platform is intended to enhance investor choice, improve liquidity for shareholders and provide greater access to investors. didnt do anything for Corsie group, who did the same thing a few weeks ago, they are now at an all time low... |
Posted at 07/6/2007 07:59 by currypasty Glen looks to name change after buyout of PinnacleSCOTT REID DEPUTY BUSINESS EDITOR (sreid@scotsman.com) GRAHAM Duncan, the Scottish telecoms entrepreneur, is to restructure his AIM-listed Glen Group venture, including a possible change of name, after buying out Falkirk-based Pinnacle for a six-figure sum. The deal, funded mainly by shares, will add traditional line rental telecoms services to Glen's portfolio and see Pinnacle founder Alan Bonner join the enlarged company as a director. Chief executive Duncan, the founder of Atlantic Telecom, which collapsed in 2001 having been valued at £2 billion at its peak, said the Pinnacle business would be slotted into Glen's SME communications subsidiary. The Glen Communications name is set to be withdrawn from the market during a three-month integration period. Duncan said he was considering changing the parent company name as well, but stressed that a final decision had yet to be taken. "There's nothing wrong with having a Scottish name but at the end of the day a blander name perhaps will travel better," he said. The takeover of Pinnacle for £700,000 includes a cash element of £25,000. Glen said the deal would add about 200 active customers, with "several thousand" more in Pinnacle's database. Pinnacle had been wholly owned by Bonner, who was instrumental in building the business from a standing start in 1998 to a turnover of £6 million in 2004. In April 2004, the company sold its fixed-line customer base, but re-established itself last year. Unaudited accounts for the year to March 2007 reveal a turnover of just under £500,000. Duncan said he planned to retain the Explore IT brand bought last September. Glen's other core division, Eclectic Group, supplies advanced IT consultancy services to major corporates and the public sector. It was acquired for £2.2m in February 2006. Duncan, a broadband evangelist and pioneer, hinted at further deals on the SME telecoms front, saying: "There are up to 1,000 telecoms re-sellers in the UK who are continuing to build customer bases associated with carrier pre-selection, line rental and other services. We are interested in hoovering up a number of these." He added: "There is a still a massive market in traditional telco, although we are not in the residential market so we don't have to bother about going head to head with Carphone Warehouse or people like that." Atlantic Telecom collapsed with debts of about £700m in October 2001 after investors pulled the plug on the technology boom. Duncan lost an estimated £100m personal fortune. He set up Glen Group as a small IT and telecoms business a year later before floating it on AIM towards the end of 2004. The shares, which have traded steadily over the last year after a rocky market debut, nudged up 5 per cent to 0.5p. This article: |
Posted at 04/3/2007 11:03 by bogoff Please note: Your browser has been unable to load the stylesheet that accompanies this page. The page is still readable. [Accessibility statement][Skip to navigation] Websites Scotsman.com websites News Sport Business The Scotsman Scotland on Sunday Edinburgh Evening News Dating Jobs Motors Property Business Finder Member Centre Web Feeds Media Pack Site Help Digital Archive 1817-1950 Photo Gallery Reader Holidays Scotsman Calendar Money Fantasy Golf Haggis Hunt Edinburgh Festivals Heritage & Culture Living Weather Webcams Search | Site mapJobs | Property | Motors | Dating | MoneyEmail preferences Edit your details Log out phil logged in Sunday, 4th March 2007Top Stories Sun 4 Mar 2007 Printer friendly Send to friend Comments (0) Survivor of an Atlantic storm DOUGLAS FRIEDLI (dfriedli@scotlandon THE unremarkable offices of Graham Duncan's new company, hidden behind a supermarket in the former mining town of Straiton, are a stark reminder of the old adage that what goes up can also come down. Duncan was a pioneer of the 1990s technology revolution, the chief executive of Atlantic Telecom, with a £100m personal fortune and a seven-bedroom mansion in a smart Aberdeenshire village. But he lost it all when investors pulled the plug on the technology boom, leaving his company in ruins and his ambitions on hold. Nowadays he is trying to rebuild his business career and has just raised capital to expand Glen Group, an acquisitions vehicle he set up in the wake of Atlantic's collapse. The excitement that surrounded the surge of telecoms and dotcom businesses is long past and Duncan knows rebuilding his hopes will be a long and lonely journey. It is so different from the day in October 2001 when Atlantic, once valued at £2bn and sponsors of Aberdeen Football Club, collapsed with debts of £700m. Duncan had spent most of that day in London trying to convince investors to back a restructuring programme, only to learn it had all been in vain as he touched down at Aberdeen airport. Things got worse. At one point, his wife was pursued by reporters as angry subscribers and investors vented their fury. He was forced to sell his mansion with swimming pool and moved south, his business reputation badly damaged. Now he is fighting on a new front: attempting to make a small IT and telecoms business big enough to survive. His new company has just moved into its new premises in Midlothian. The unstaffed reception area is dominated by a perspex sign, 6ft wide, proclaiming this the headquarters of Glen Group, a world away from Atlantic's thousand-strong workforce. Sitting in an unadorned, first floor meeting room, he reflects on Atlantic's collapse. "I am not bitter," he says. "I understand that what happened was across the board and the public markets had to do what they had to do. The market was saying it did not want the stock that the industry had built up." He is content to talk about his experiences, but there is a hint of tetchiness in his voice as he says: "The real difficulty we had was funding being cut globally when we were still building the bloody networks. Nobody expected it to get cut so quickly. I always said you need five to seven years to get a profit from a network. In some cases, we were given just a month." Lessons have been learned for Glen Group, the company Duncan set up in 2002. "It is no coincidence that the business I have now does not require me to make capital spending every time I put on a customer." But starting again has brought fresh frustrations for Duncan, a chartered accountant by trade. He floated Glen, chaired by the former Arthur Andersen boss Eric Hagman, on the Alternative Investment Market in 2004 to raise money for acquisitions. His expansion plans hit a brick wall last year when Glen's share price fell below 1p, less than the par of the stock. According to stock market rules, a company cannot raise money at less than par value. The day before our interview, Duncan oversaw an extraordinary general meeting approve a redesignation of the company's 1p shares as 0.1p shares, allowing it to raise money in the future. Private investors also signalled their faith in the business by providing £500,000 to spend on due diligence on potential acquisition targets. Duncan is cagey about how close he is to acquiring companies; a couple of potential targets have been rejected but others are getting more interesting. "We did two deals last year and I would hope to do more than that this year, but it depends on what comes along. At the moment, the public markets are valuing business at below what private trades value them at, which can be frustrating." Part of the reason for getting bigger is to cover the overheads of a plc. "We are in this to make the business profitable. One problem is the cost of the listing. We have to pay more for accountancy services, for a nominated adviser, brokers, public relations people and so on. I reckon it costs between £300,000 and £400,000 a year just to maintain the listing. The more subsidiaries you have the more difference it makes." Duncan's mini empire now includes more than 50 sales and technical staff generating turnover of about £4m a year. The group operates through Glen Communications, headquartered in Rotherham, South Yorkshire, a telecoms and IT company focused on small business customers. Eclectic Group, based in Glasgow and London, advises companies on their business performance. And Explore IT, which has just moved from its Edinburgh home to Glen Group's HQ, provides IT services to small firms. But Duncan does not spend much time on the day-to-day minutiae: "I had the business set up so I can spend more time on the public face of it than running it. Subsidiaries have their own managing directors, giving me time to look at acquisitions." His shopping list of targets includes IT service businesses with small business customers, telecoms resellers, Eclectic "lookalike" consultancies and IT security businesses. He could be tempted by telecoms network service businesses, but nothing involving intensive capital spending. However, building a business from scratch is a time-consuming process, particularly with a share price in the doldrums. "At Atlantic, I found that it was easier to raise substantial sums of money than to raise smaller amounts, funnily enough. "The share price has not been good at all, because the market moves on very small share price movements. We lost £1m in market value when somebody sold just £400 worth of shares. It is all to do with supply and demand, but as a board it is very important that we do not chase the share price on a day-to-day basis." Duncan hopes to bring a bit of stability by bulking Glen up, boosting its market value and getting institutional investors interested. "We have no institutional investors at all. We have been trying to attract them, but it is hard at this level." Duncan admits that Glen joined Aim at the bottom of the scale, valuing the business at just £2m, and that may have hampered its profile. Then again, he had to start at the bottom with Atlantic, which he ran for 12 years before it floated, running cable TV in Aberdeen and buying businesses from the late Robert Maxwell. Despite everything, he is still a fan of the stock market. "If instead of floating we had been backed by private equity, the share price would not have been a consideration. In that regard, we might have grown faster. But it has not been that difficult to raise money on Aim. From an operating point of view, I still think it is a lot easier to build a business on the public markets." Duncan retains some old connections who include Martin Gilbert, the chief executive of Aberdeen Asset Management. The two have a number of things in common, apart from running businesses in Aberdeen. They both hit serious problems at about the same time, in Gilbert's case through the split capital trusts scandal. He still takes a close interest in the world of telecoms and reckons there are too many companies out there: "There are between 600 and 1,000 telecoms resellers in the UK. It has become a price-based service and the pricing has become commoditised. "I expect there is consolidation to be had among telecoms resellers. Some of these are what I call mom and pop businesses." He is an enthusiast for Voice Over IP (internet protocol) telephone service, one of Glen's main product lines, which he reasons will become more popular as smaller companies acquire broadband phone services and wonder what to do with them. And he shoots down the suggestion that Glen faces tough competition from the hundreds of companies doing similar things. "There is competition out there for certain of our product lines, but there are not many companies that can do all the things we do. There is a potential market for a one-stop-shop supplier in IT and telecoms. When we were setting this company up, we wanted broadband connections, mobile. Before you know where you are, you're dealing with three different people." Now living in Peebles, within easy commuting distance of Glen Group, Duncan says family is his only interest outside work. "I am 56. I don't want to retire, but I think I should at 65. I am keen to build Glen into a business that means something." He refuses to be disheartened by the trundling performance of Glen's stock. "Judge what has happened over five or six years and you will see whether we have done a good or a bad job," he says. This article: Last updated: 04-Mar-07 02:55 GMT Comments Add your commentAdd your comment Don't swear, be offensive or post comments that break the law. 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Posted at 11/4/2006 17:42 by currypasty Glen presses aheadThe recent acquisition of Eclectic by Glen Group may soon start to stir investors' interest in this situation. However, the individuals behind it may be just as important. The driving force behind Glen is the dynamic Graham Duncan, who played a key management role in the development of Atlantic Telecom during the tech boom, which once had a market capitalisation of £2bn. Like many other technology-focused companies in the post boom period, the business failed after over-stretching itself and went into liquidation in 2002. The hope is Graham has learnt from this testing experience and can use his skills to build up another company to a similar size, but this time not suffer the pain afterwards. His approach at Glen seems to be more cautious and prudent, with debt levels being kept to a minimum. The Group made a quiet debut on AIM at the end of 2004, which then consisted of a small IT and communications integration business, with the main remit on the provision of reseller telecoms services to small to medium sized enterprises. To achieve scale, Glen acquired IT services company Solius IT in May 2004 and more recently in February 2006 added IT consultancy Eclectic to the fold for a consideration of up to £3m. The addition of Eclectic is probably the most notable and provides the Group with access to some high profile blue chip clients such as Prudential, Shell and Scottish Power who are provided with business intelligence consultancy. The plan is to extract cross-selling synergies across the Group between both small and large clients and at the same time offer a broader service. It is now that Glen is finally beginning to justify its public listing. Our hope is Solius and Eclectic will be followed by more bolton acquisitions to add further scale. Glen is still, at this point, an early stage opportunity, but with the experienced Graham Duncan at the helm and a progressive strategy being pursued, we can expect more news to follow and for this Group to attain a higher profile. |
Posted at 11/1/2005 16:06 by currypasty I think many people (me too) lost alot of money in the TMT crash... that doesnt mean ALL directors were entirly to blame... in hindsight more like unrealistic investors aspirations !! |
Posted at 02/12/2004 08:37 by currypasty Glen Group starts first day on AIM KRISTY DORSEY, Deputy Business Editor December 02 2004 GLEN Group, the communications business headed by former Atlantic Telecom chief executive Graham Duncan, began trading on the Alternative Investment Market yesterday with a market value of £1.5m. The shares were listed at 3p each after a placing with a group of private investors, and although almost no trades took place on the first day, market makers pushed the price up to 4.75p by the close. At that level, Glen Group is valued at nearly £2.4m. Duncan, the chief executive of Glen Group, said none of the tiny company's existing investors had sold shares as part of the listing. A total of 25 million new shares was issued, which effectively cut the stakes of pre-flotation investors by half. Duncan and his wife, Margaret, saw their collective holding cut from 48.2% to 24.1%. Their investment in the business is therefore valued at £578,000. Peter Ford who sold Fords the Bakers about a year ago to Bathgate's United Central Bakeries in a £2m deal saw his stake cut from 36.9% to 18.5%. Other early investors also saw their holdings halved, including Ken Ford, chief operating officer at Glen Group and a cousin of Peter Ford. He owned 4.9% of the business prior to flotation, with the remaining equity split equally between Glen Group head of IT Keith Skilling; his wife, Orleen Heather Skilling; and Glen Group's head of sales, Ian Hogg. Hogg and Keith Skilling joined Duncan's 10-man team in Dalkeith after Glen Group acquired Soluis, a small IT company in Stenhousemuir, earlier this year. Although half of Glen Group's current staff are dedicated to sales, the £750,000 raised from yesterday's listing is primarily earmarked for expanding Glen's sales presence from its base in central Scotland to throughout the UK. Glen Group focuses on re-selling communications services such as mobile telephony, landline communications and internet services to small and medium-sized businesses. Graham set it up in February 2002, just four months after Aberdeen-based Atlantic Telecom went into administration. During the telecommunications boom, Atlantic achieved a market value of about £2bn. It went bust with debts of £700m after the bubble burst in 2001, with its swift demise in no small part linked to high-yield bonds used in the previous acquisition of a German subsidiary. Duncan said yesterday that every telecoms company with that kind of high-yield debt had been quickly forced out of business in the wake of the market fall-out. He added that Atlantic's demise had been "a huge blow to everybody involved". "But for every one person who lost 'X' amount with Atlantic, I can show you another person who made 'X' amount with us," said Duncan, who is estimated to have lost a personal paper fortune of £110m. "We were trading on the market for nearly seven years." Despite Atlantic's difficulties prior to going bust, Duncan said he was "very pleased" to be back in the publicly-quoted arena. He added that his entire history with Atlantic had been fully disclosed in Glen Group's flotation prospectus. GLEN Group, the communications business headed by former Atlantic Telecom chief executive Graham Duncan, began trading on the Alternative Investment Market yesterday with a market value of £1.5m. The shares were listed at 3p each after a placing with a group of private investors, and although almost no trades took place on the first day, market makers pushed the price up to 4.75p by the close. At that level, Glen Group is valued at nearly £2.4m. Duncan, the chief executive of Glen Group, said none of the tiny company's existing investors had sold shares as part of the listing. A total of 25 million new shares was issued, which effectively cut the stakes of pre-flotation investors by half. Duncan and his wife, Margaret, saw their collective holding cut from 48.2% to 24.1%. Their investment in the business is therefore valued at £578,000. Peter Ford who sold Fords the Bakers about a year ago to Bathgate's United Central Bakeries in a £2m deal saw his stake cut from 36.9% to 18.5%. Other early investors also saw their holdings halved, including Ken Ford, chief operating officer at Glen Group and a cousin of Peter Ford. He owned 4.9% of the business prior to flotation, with the remaining equity split equally between Glen Group head of IT Keith Skilling; his wife, Orleen Heather Skilling; and Glen Group's head of sales, Ian Hogg. Hogg and Keith Skilling joined Duncan's 10-man team in Dalkeith after Glen Group acquired Soluis, a small IT company in Stenhousemuir, earlier this year. Although half of Glen Group's current staff are dedicated to sales, the £750,000 raised from yesterday's listing is primarily earmarked for expanding Glen's sales presence from its base in central Scotland to throughout the UK. Glen Group focuses on re-selling communications services such as mobile telephony, landline communications and internet services to small and medium-sized businesses. Graham set it up in February 2002, just four months after Aberdeen-based Atlantic Telecom went into administration. During the telecommunications boom, Atlantic achieved a market value of about £2bn. It went bust with debts of £700m after the bubble burst in 2001, with its swift demise in no small part linked to high-yield bonds used in the previous acquisition of a German subsidiary. Duncan said yesterday that every telecoms company with that kind of high-yield debt had been quickly forced out of business in the wake of the market fall-out. He added that Atlantic's demise had been "a huge blow to everybody involved". "But for every one person who lost 'X' amount with Atlantic, I can show you another person who made 'X' amount with us," said Duncan, who is estimated to have lost a personal paper fortune of £110m. "We were trading on the market for nearly seven years." Despite Atlantic's difficulties prior to going bust, Duncan said he was "very pleased" to be back in the publicly-quoted arena. He added that his entire history with Atlantic had been fully disclosed in Glen Group's flotation prospectus. GLEN Group, the communications business headed by former Atlantic Telecom chief executive Graham Duncan, began trading on the Alternative Investment Market yesterday with a market value of £1.5m. The shares were listed at 3p each after a placing with a group of private investors, and although almost no trades took place on the first day, market makers pushed the price up to 4.75p by the close. At that level, Glen Group is valued at nearly £2.4m. Duncan, the chief executive of Glen Group, said none of the tiny company's existing investors had sold shares as part of the listing. A total of 25 million new shares was issued, which effectively cut the stakes of pre-flotation investors by half. Duncan and his wife, Margaret, saw their collective holding cut from 48.2% to 24.1%. Their investment in the business is therefore valued at £578,000. Peter Ford who sold Fords the Bakers about a year ago to Bathgate's United Central Bakeries in a £2m deal saw his stake cut from 36.9% to 18.5%. Other early investors also saw their holdings halved, including Ken Ford, chief operating officer at Glen Group and a cousin of Peter Ford. He owned 4.9% of the business prior to flotation, with the remaining equity split equally between Glen Group head of IT Keith Skilling; his wife, Orleen Heather Skilling; and Glen Group's head of sales, Ian Hogg. Hogg and Keith Skilling joined Duncan's 10-man team in Dalkeith after Glen Group acquired Soluis, a small IT company in Stenhousemuir, earlier this year. Although half of Glen Group's current staff are dedicated to sales, the £750,000 raised from yesterday's listing is primarily earmarked for expanding Glen's sales presence from its base in central Scotland to throughout the UK. Glen Group focuses on re-selling communications services such as mobile telephony, landline communications and internet services to small and medium-sized businesses. Graham set it up in February 2002, just four months after Aberdeen-based Atlantic Telecom went into administration. During the telecommunications boom, Atlantic achieved a market value of about £2bn. It went bust with debts of £700m after the bubble burst in 2001, with its swift demise in no small part linked to high-yield bonds used in the previous acquisition of a German subsidiary. Duncan said yesterday that every telecoms company with that kind of high-yield debt had been quickly forced out of business in the wake of the market fall-out. He added that Atlantic's demise had been "a huge blow to everybody involved". "But for every one person who lost 'X' amount with Atlantic, I can show you another person who made 'X' amount with us," said Duncan, who is estimated to have lost a personal paper fortune of £110m. "We were trading on the market for nearly seven years." Despite Atlantic's difficulties prior to going bust, Duncan said he was "very pleased" to be back in the publicly-quoted arena. He added that his entire history with Atlantic had been fully disclosed in Glen Group's flotation prospectus |
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